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In this video tutorial by Ivan from SimpleSheets, viewers learn about the contract management template, one of over a hundred pre-built templates available. The introduction sheet provides a description, key term definitions, customization difficulty, an overview of included sheets, and instructions for usage. It also includes a guide on how to use the templates with compatible online services. The template features a central dashboard to track various contracts with customers, vendors, partners, or employees, beginning with the contract database sheet. Viewers are encouraged to support the channel by liking the video and subscribing.